Wellington Management Group LLP Lowers Holdings in DoubleVerify Holdings, Inc. (NYSE:DV)

Wellington Management Group LLP decreased its holdings in shares of DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 74.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,259 shares of the company's stock after selling 1,045,612 shares during the quarter. Wellington Management Group LLP owned about 0.22% of DoubleVerify worth $6,168,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DV. Assenagon Asset Management S.A. raised its holdings in DoubleVerify by 9.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,123,545 shares of the company's stock valued at $69,440,000 after acquiring an additional 360,445 shares during the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of DoubleVerify by 25.9% in the second quarter. Van Berkom & Associates Inc. now owns 3,046,200 shares of the company's stock valued at $59,310,000 after purchasing an additional 626,586 shares during the last quarter. Burgundy Asset Management Ltd. purchased a new position in DoubleVerify during the second quarter worth approximately $54,099,000. Mackenzie Financial Corp acquired a new position in DoubleVerify during the second quarter worth $53,015,000. Finally, Geneva Capital Management LLC grew its holdings in DoubleVerify by 2.8% in the 3rd quarter. Geneva Capital Management LLC now owns 2,554,477 shares of the company's stock valued at $43,017,000 after buying an additional 69,780 shares in the last quarter. 97.29% of the stock is currently owned by institutional investors and hedge funds.

DoubleVerify Stock Performance

Shares of DoubleVerify stock traded down $0.16 during trading hours on Tuesday, reaching $19.95. 1,294,076 shares of the company were exchanged, compared to its average volume of 2,293,172. The firm has a market cap of $3.37 billion, a PE ratio of 54.05, a PEG ratio of 3.29 and a beta of 0.97. The stock's fifty day moving average is $18.89 and its 200 day moving average is $18.88. DoubleVerify Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $43.00.

DoubleVerify announced that its board has authorized a share repurchase program on Wednesday, November 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity

In other news, CFO Nicola T. Allais sold 1,764 shares of DoubleVerify stock in a transaction on Friday, October 4th. The shares were sold at an average price of $16.92, for a total transaction of $29,846.88. Following the completion of the sale, the chief financial officer now directly owns 81,598 shares of the company's stock, valued at approximately $1,380,638.16. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 8,820 shares of company stock worth $155,444. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DV has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Macquarie reiterated an "outperform" rating and issued a $19.00 target price on shares of DoubleVerify in a report on Thursday, November 7th. Scotiabank assumed coverage on shares of DoubleVerify in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price target for the company. Morgan Stanley reduced their price target on shares of DoubleVerify from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Finally, JMP Securities lowered their price objective on DoubleVerify from $33.00 to $25.00 and set a "market outperform" rating for the company in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, DoubleVerify has an average rating of "Moderate Buy" and an average target price of $24.06.

DoubleVerify Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.